Beese Fulmer Investment Management Inc. Makes New Investment in CVS Health Co. (NYSE:CVS)

Beese Fulmer Investment Management Inc. purchased a new position in CVS Health Co. (NYSE:CVS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,073 shares of the pharmacy operator's stock, valued at approximately $276,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Whitebox Advisors LLC purchased a new stake in CVS Health in the fourth quarter worth about $249,000. B&D White Capital Company LLC acquired a new position in CVS Health during the 4th quarter valued at about $417,000. Fairfax Financial Holdings Ltd. Can purchased a new position in shares of CVS Health in the 4th quarter valued at approximately $121,742,000. Lazard Asset Management LLC lifted its stake in shares of CVS Health by 7.3% during the fourth quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator's stock worth $192,617,000 after buying an additional 293,406 shares during the period. Finally, Seizert Capital Partners LLC lifted its position in CVS Health by 22.8% during the 4th quarter. Seizert Capital Partners LLC now owns 569,527 shares of the pharmacy operator's stock worth $25,566,000 after acquiring an additional 105,708 shares during the period. Institutional investors own 80.66% of the company's stock.

Analyst Upgrades and Downgrades

CVS has been the subject of several research reports. Cantor Fitzgerald upgraded shares of CVS Health from a "neutral" rating to an "overweight" rating in a research note on Wednesday, February 12th. Truist Financial boosted their price objective on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Mizuho upped their price objective on shares of CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Morgan Stanley reiterated an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $84.00 target price (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $74.75.

CVS Health Trading Up 0.0%

CVS stock traded up $0.02 during midday trading on Tuesday, hitting $63.62. 6,453,352 shares of the company's stock were exchanged, compared to its average volume of 11,176,292. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $72.51. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $80.48 billion, a PE ratio of 17.38, a P/E/G ratio of 0.98 and a beta of 0.60. The business has a 50-day simple moving average of $65.54 and a two-hundred day simple moving average of $59.74.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. The firm had revenue of $94.59 billion during the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The company's quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $1.31 EPS. On average, sell-side analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a $0.665 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.18%. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

Insider Buying and Selling at CVS Health

In other news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares of the company's stock, valued at approximately $556,941.90. The trade was a 47.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.22% of the stock is owned by corporate insiders.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.